Developer Makes Six-Acre Purchase at Biotech Park

PRINCE WILLIAM COUNTY, VA-Arrangements to build the first speculative office/flex structures at Innovation@Prince William have been put in place with developer Buchanan Partners’ purchase of six acres within the 1,600-acre biotech-centered business park. Buchanan plans to erect two single-story buildings accounting for 90,000 sf of space. The county sells land within Innovation at $3 per sf, or about $130,700 per acre.

“Innovation@Prince William is anchored by Micron, Lockheed Martin, Eli Lilly & Co., American Type Culture Collection and George Mason University’s Center for Biotechnoloy, Bioscience and Bioinformation,” says Jay Norman, president of Norman Realty, the firm charged with leasing up the new spec buildings. “These major research, biotech, telecommunications, semiconductor and pharmaceutical firms provide a catalyst for leasing Buchanan Partners’ new development at Innovation.” Construction of the buildings is expected to get underway at mid-year.